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20130129
20130206
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CNBC 6
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CSPAN 2
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English 19
Search Results 0 to 18 of about 19 (some duplicates have been removed)
get rid of the debt ceiling? it's a real brawl. >> just deep six that sucker like no other country deals with this it ottic device. hey, i'm going to borrow some money, but i'll think twice over whether i'm going to pay the bill when it comes. >> what if it was the founding father himself who said i think we ought to have a debt ceiling so as to avoid fiscal recklessness? >> well, in fact, the debt ceiling, the reason we have one is because up until 100 years ago, we voted on every bond issue individually. so you think it's bad now, just imagine if we had had that situation. but looking forward, though, this is very much yesterday's story. it was interesting that the reason the dow took this latest jump upwards was because the house a couple of weeks ago signaled they weren't going to have a fight over the debt ceiling. now, people need to focus on the fact that the next big tripwire is the sequester. i think markets got a little bit complacent the one second. >> we want to talk about the federal reserve, as well. let's recap what the fed did. they kept their $85 billion bond buyin
stability. let's hope we wet through the debt ceiling crisis, and then you'll see the private sector invest. if there's one thing this president is going to be known for, he is all over the social issues, guns and gay marriage and healthcare but has done nothing to help this economy. and when you look at what jack will you and rob neighbors and gene sprawling did in the summer of 2011, are you shock wed have had this anemic recovery? and we're not in a recovery. near a recession. >> one more quarter and we're in a technical recession as well. one more quarter of negative. let's talk about this for a little bit. so, what we really need is growth to come back into the economy. for me, ronald reagan, margaret thatcher, said let people keep more of their own money and then people invest in their businesses or invest in themselves go out to dinner, a movie. thatthat's economic growth. >> you're absolutely correct. and look, the numbers are clear. if we were growing at three to four, five%, which is not out of the realm of possibility, happened under ronald reagan -- we could grow our way out of
. eventually we'll have to deal with spending cuts and the debt ceiling debate. whether or not that's it. for the meantime, the markets run a long time just because they are soaking up all the stimulus from the fed. >> a lot of stimulus from the other central banks cutting trase today. greg, you want to get in front of this train and fight the fed? >> yeah, i think that the fed is going to continue pushing pretty hard this year but equity investors have to take a look at what's in the fed's tool backs and realize they have shot every arrow that they have got. they will keep gig qe this year, maybe another $1 trillion but even inside the fed there's doubts about how much more effective will be at this stage, what, with long-term interest rates as low as they are. tomorrow i don't expect any fireworks from them. i'll be interested to see how they characterize the economy, whether they are getting more comfortable with it now that we have the biggest piece of the fiscal cliff out of the way or whether they are still concerned that employment is sluggish an inflation is tracking kind of low.
to bring you back for this. quick thought about this, can we get rid of the debt ceiling? >> iveng what we're seeing is some of the political brinksman ship around the debt ceiling may be a thing of the past. the renls certainly got hurt politically trying to use that tool as leverage. 6/hopefully it's an indication that that particular kind of brinksman ship is behind us. >> we'll see. i never put it beyond politicians. when the story changes, they'll change. julie, now win promise you can have your coffee break or tea break. try tea, it's very nice. english breakfast. very good thing to have first thing in the morning. we'll come back to you, jules, julia. >>> in the united states, in addition to the jobs report, there are some other pieces of the economic data. the final look at january consumer sentiment is out at 9:55 a.m. eastern. on the corporate front, exxon mobil, chevron, merck, tyson foods all report earnings before the bell. january sales are also out. they're expected to be seen at the strong rate compared to last year. this is all thanks to pent up demand as well as the impro
is under 2 percent growth. you know, if we don't resolve some of the debt ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it, and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still in negative growth was 7%. so now your up to 50% or so of world gdp that is a drag on the economy. how you look at, you know, the broader sense of contagion as it relates to the emerging market growth and development country growth with 50 percent of world's gdp possibly in that situation? >> i think the trade figure still at all, whether you agree with the figures of growth are not, i think the trade figures show what is happening. there is no doubt, picking one of the countries mentioned, china, i mean, china for the last of the years has been double digit growth. last year they had one of the worst years in recent memory. we will see the final figures coming out. it did not give below 7%, which i view as hard landing, but when you move from double digits down
-being. the debt ceiling has been pushed off till may. now we're in the cadence of the budget that will come forward and immigration reform is the signature item of the president, of the business community and both parties. so there is a realp opportunity to do this. david: let me just ask about one specific thing. a lot of people are on board with regard to immigrants who can add to the economy. we just had an immigrant from india on earlier who came here, got an education, at mit. and went on to start a company that makes a billion dollars and employs a thousand people that kind of immigrant is the nation that is okay with. it is the immigrants to suck off the government, to take more than they give that they're against. do you think everybody is on board with that idea? >> i think there is a lot of misinformation. i don't agree with that characterization. people have to tendency to talk about the founder, the stanford grad or mit grad that knows computer science and pounds a company and that's great. that is the h-1b high-skilled worker. equally important is the 11 million undocumented. s
on the debt ceiling so that it's not fiscal crisis day-in and day-out and we are talking about some other issues that are important. immigration, gun violence. ists to talk about the political dimension of those. come from calf, i have working on the immigration reform and the border problem for 25 years about it looks leak the time has finally, come for this legislation to happen this year. >> politically, is this the time when it could happen? >> yeah. i think it is the time i also think the structure in washington is difficult for the following reason. 1994, he was at the democratic congressional campaign committee. i got sent to help speaker tom folley in a tough race. he was very sure you his support of the assault weapons ban cost him 9,000 votes from people who would always be for him and across the more splinterred districts in the house places where guns you can't get past this. you can't have a rational conversation with people because it's more like religion. there are people who can stop whatever big bill you have going because because of this. >> t
merit. president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally interrupted with a major averages suffering their worst one-day loss in a year on monday's trading. the last hour we spoke to goldman's jim o'neil about the prospects of making money in this market. >> i think to sell if you're a medium term player is probably not a smart move. but if you've made all the gains, to take some off the table isn't a crazy idea either. >> joining us now is nouriel roubini, chairman and co-founder of roubini global economics. you're not like a market master, maybe like a market jedi. plus andrew still here from fortune magazine. the one and only. we haven't seen you in a lon
important that house republicans made the move for a short-term compromise on the debt ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head into march towards the end of the month? is there more fiscal drag related tr these talks? >> we still see economic up sides for the u.s. citi economists have improved their growth forecast overall, but this isn't helping and it's not necessarily helping business confidence. what we think markets may not be prepared for is the fact that ee quest ragz is now likely to kick in. these are comments from both parties suggested that they be willing to allow this to happen. it may be the lesser of the evils. >> what are we talking about wit
the board cuts part of the deal that was made, the debt ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far as the eye can see. this president, it's time for him to step up, put forward a balanced budget or tell us when his budget will balance. >> for more on what we expect to hear from the president, we want to bring in my colleague and friend, john king in washington. john we know the president will try to kick the can forward here, talk about the need for revenue, as well as spending cuts but not deep cuts that everybody's concerned. what do we expect? >> a familiar haunt for both of us, the white house briefing room. using the power of the presidency t
consensus to keep kicking the can down the road. i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't passed a budget in four years. there is a fundamental inability for congress to do their job. you are supposed to pass a budget by april 15. you are supposed to reconcile all those bills by october. that hasn't happened in four years. instead we've had this crisis atmosphere where things are passed in the middle of the night and nothing gets done. >> we only look at law makers records as they pertain to gun related issues. the numbers in the house and numbers of the senate haven't changed so much from the previous congress but there are faces that haven't
the debt ceiling? >> well, a decision by house republican leaders at their retreat about two weeks ago. they tried in 2011 to use the debt limit as a leverage point of force obama to swallow big spending cuts. it worked, but it was terribly damaging, but the the nation's economy and to their political capital. congressional plummeted to something like 9 percent. and they recognize that this was a bad idea. gambling with the faith and credit of the united states it turns out as a pretty bad idea. we were downgraded for the first time in the nation's history. they did not want to do that again. like us said, they did not want to vote for a bigger national debt either. that does not fit with their philosophy, so they came up with this strategy of saying, okay, we will suspend it. in the meantime, we really want the senate to pass a budget for 2014, and the law also says that if either chamber fails to adopt the budget by april 15th, their paychecks will be docked. so the whole idea of this thing is to a postpone this sort of economy prattling default situation until they can prosecute thi
with the kind of spending reforms necessary to secure a longer extension of the debt ceiling. that extra time will give us a chance to break the democrats' other bad habit of leaving everything, literally everything until the last minute. but we can only do it if we get to work now and return to what we call around here the regular order. remember, regular order is how the senate is supposed to function. committees are supposed to be allowed to evaluate legislation. amendments are supposed to be considered, and the public is supposed to have a chance to scrutinize the proposals that are actually before us. look, i know that solving the debt challenge is not going to be easy. putting our country on a sustainable fiscal and economic path is going to require both parties committing to serious spending reforms. but this is a challenge we must overcome. by doing the hard work today, we can avoid a european-style catastrophe tomorrow. by reforming the functions of government that no longer make sense in 2013, we can do more than just control spending. we can encourage private sector growth and job
the other. the debt ceiling or the sequester or the sgr cliff. does congressional staffers, i'm sure debbie can attest to, we are constantly living in his temporary environment because we have to. that is unfortunate your we would all like to take some time and do a deep dive into deep policy thinking and try to think of transformational ideas that can transform everything, but when we kind of walking to work reality hits us. we have a job to do. we have to take of the thing that is the most pressing on the front end, and, unfortunately, that's kind of the environment we are living in. and it was a very interesting panel, especially the last one, where i was hearing, there's nothing better than congressional staffers. actually talk to patients are going through the clinic. one of the things that, the reality that we suffer with, unfortunately and this is something we all have to deal with come is just the fiscal reality. as you rightly pointed out, it is right now the debate is about budget and at, people are can't figure out to control costs but also how to find actual savings that are sco
, and then the european credit crisis, as well as d.c.'s own fight over the debt ceiling. and then we were set to take off, all of a sudden we saw a big tumble in the stock markets and we saw job growth go back down again. i believe in august 2011 the initial report was zero net jobs. now they eventually revised that up to 100,000, but still an amemic growth rate. host: we continue our conversation regarding the 157,000 jobs added in january in the unemployment rate back now at 7.9% with patrick rice of politico. donald from statesville, north carolina is our next caller. donald is on our line for republicans. caller: hey, how you doing. i'm calling from statesville, north carolina, and we got some bad news here. freight liner who was in cleveland, north carolina, is going to lay off 750 employees. trim systems that supported them, they're closing their plant, 65 employees down to two. but here's my question, you know. when they do these job numbers, lowe's down here is going to hire 45,000 part time workers. does that count in the job numbers? or those are not even included? host: sorry about that donald
that we were holding back growth, if we got past the fiscal cliff and solved the debt ceiling which we did we would unleash all of this economic activity in the first quarter. it happened already. it happened in the third quarter. happened in the fourth quarter. and we know now that gdp for all of 2012 as it stands now, 1.5%, not very good. we didn't help anything back to have a burst of activity coming forward which is why i think economists still project the first quarter another sub par quarter around 1.5. >> you're saying the phenomenon they're talking about as uncertainty was more of a tax issue only pulling the money forward to pay the lower tax rate. second issue, ghost busters. no. second issue is rotation. this is the number one topic. and what says jim bianco on the rotation conventional wisdom? >> you just hinted it. it was all about taxes in late december. everybody pulls forward. bonuses, distributions, 401(k), whatever, paid in late december. yes a lot of money went into stocks. more money went into bonds. even more money went into money market funds. everybody got money in j
that was brought by house republicans in passing their no budget, no pay provision as part of the debt ceiling bill that's now come over to the senate, it looks like the senate according to senator murray will now take up a budget. this is important because while republicans believe that spending is the problem not a lack of taxation, it's going to be a revealing exercise to see how this budget markup goes in committee and then, of course, on the floor. and it will be, i'm sure, a challenge for those who believe that more revenue is a solution as opposed to reining in spending to see how senate democrats produce 51 votes to pass a budget by the april 15th deadline. >> senate republicans just released a video that highlights the president's past statements when it comes to tackling the debt and his actual record when it comes to tackling the debt. and when out comes to reducing the debt as we would say out in the west, the president has been all hat and no cowboy. in other words, he's been all talk and no action. what we've seen over the past four years as trillion dollar deficits every single year,
Search Results 0 to 18 of about 19 (some duplicates have been removed)